The Central Bank of Nigeria (CBN) on Tuesday updated the lists of Deposit Money Bank (DMBs), and financial holding companies operating in the country.
Also updated on its website were the lists of licensed Microfinance Banks (MFBs), finance companies and Bureau De Change (BDCs).
Consequently, as at June 30,2019, there are 21 commercial banks, four financial holding companies, five merchant banks, and one non-interest bank operating in the country.
Further breakdown of the list of the banks shows that there are eight commercial banking licence with international authorization, 11 commercial banks with national authorization and two banks with regional authorization.
The CBN’s update indicated that there are 908 Microfinance banks, 73 licensed finance companies, and 4798 BDCs operating across the county.
Hope Moses-Ashike
Hope Moses-Ashike is an Associate Editor, Banking and Finance, with more than a decade of experience reporting on Nigeria’s financial system and broader economy. She closely tracks market movements, monetary policy decisions, company disclosures, regulatory actions, economic indicators, and global developments, and interprets what they mean for businesses, investors, policymakers, and households. Her reporting helps readers understand complex issues such as inflation trends, foreign exchange market dynamics, interest rate decisions, bank performance, and investment risks.
She also covers major international events and periodically travels to Washington, D.C., to report on the World Bank/IMF Spring and Annual Meetings.
Her dedication to financial journalism has earned her multiple recognitions and invitations to high-level professional development programmes. She is an alumna of the International Visitors Leadership Programme (IVLP) in the United States and holds an Advanced Financial Journalism Certificate from the Press Association Training in London, UK. Her other notable achievements include completing the Lagos Business School CMC Programme, the Bloomberg Media Africa Initiative Programme, and a Master Class in Journalism at Rhodes University in South Africa.
